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Bids » What is?

What is?

WHAT IS A BID BOND?  Submitted as part of the bidding documents, a bid bond guarantees to the project owner that the contractor

  • can comply with the bid contract and can accomplish the job as laid out in the contract;
  • has the capability to take on and implement the project once selected during the bidding process; and
  • is financially stable and has the necessary resources to take on the project.

 

WHAT IS A NON-COLLUSION AFFIDAVIT?  Submitted as part of the bidding documents, a Non-Collusion Affidavit 

  • states that the bid or proposal is genuine;
  • states that the bid or proposal is not done in the interest or on behalf of any unnamed person;
  • certifies that the bidder has not asked competitors to refrain from bidding;
  • certifies that the bidder has not conspired with or solicited another company to create a fake bid for comparative purposes; and
  • certifies that the bidder has not conspired with a competitor or other company to create an unfair advantage over the other bidders.